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Listed by Hector H Rosas NOVO
$775,000
Est. payment /mo
2,515 SqFt
Active
172 E 3rd AVE #172 San Mateo, CA 94401
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Key Details
Property Type Commercial
Sub Type Business
Listing Status Active
Purchase Type For Sale
Square Footage 2,515 sqft
Price per Sqft $308
MLS Listing ID 425018108
HOA Y/N No
Lot Size 3,571 Sqft
Acres 0.082
Property Sub-Type Business
Property Description
In the heart of vibrant Downtown San Mateo! This exceptional second-generation restaurant space located at 172 E 3rd Ave, presents a rare opportunity to step into a meticulously renovated and virtually turnkey establishment. Boasting a prime location with high visibility and accessibility, this space is poised to become a thriving culinary destination. Strategic Location: Situated on bustling E 3rd Ave, this restaurant benefits from substantial foot and car traffic, ensuring constant exposure to potential patrons. The proximity to ample public parking and the Caltrain station further enhances accessibility, drawing in diners favorable existing lease. Current tenants are currently in the 5th year of a 10-year lease, with 2 additional 5-year options providing long-term stability and the opportunity to grow your business. The current rent is in the low $6000s, an exceptional value for the location. Open Concept: The property features 1,645 square feet of ground-level space, complemented by an additional 870 square feet of storage. The current tenants have invested a generous amount of time and capital into transforming this space into a 95% turnkey operation. While they have not opened the space, the work has been completed to a high standards. 16 Foot Type 1 Hood, ADA Compliant.
Location
State CA
County San Mateo
Area San Mateo
Zoning Retail
Interior
Interior Features Other Walls
Heating Other
Cooling See Remarks
Flooring Concrete, Tile
Fireplace No
Exterior
Roof Type Other
Handicap Access Wheelchair Access
Building
Lot Description Airport Nearby, City Lot, Downtown Commercial, Freeway Nearby, Near Public Transit, Residential Area, Restaurant Nearby, Shopping Center Nearby
Story 1
Sewer Public Sewer
New Construction No
Others
Tax ID 034172060
Acceptable Financing Cash, SBA Loan
Listing Terms Cash, SBA Loan
